STRUGGLING shops could be forced to close if a multi-storey car park is sold off to save money, it is claimed.

Waltham Forest Council has included the car park in Hall Lane, Chingford, on a list of 43 assets that could be sold to the highest bidder over the next two years in a move to save £40 million by 2014.

But a retailer said the car park is the only thing ensuring shoppers can visit the high street due to a lack of parking in the area.

Alex Greenslade, 28, of Henry's of Chingford furniture shop, said the car park provides the only parking available to shoppers using the high street, and without it her store would close.

"This high street is dying and this is the final nail in the coffin," she said. "It's an absolute joke. This shop's been here for 50 years but we will struggle to last much longer without the car park.

"The recession is killing shops but the council isn't helping us at all."

Tory leader Matt Davis added that he was shocked the car park was included on the list of council-owned buildings that could be sold in order to meet government funding cuts.

He added: "It's a big blow to the local economy, people use the car park to shop at Sainbury's and then go to the smaller stores there - it could mean residents are left without a local high street."

Also included on the list is Friday Hill House in Simmons Lane, Chingford, the historic Grade II-listed building which formerly housed the authority's adult education classes but now stands vacant.

Local ward Cllr Laurie Braham said: "It's a great loss to the community if it goes. It's a beautiful building and deserves to remain in community use.

"But it's very tough at the moment and the council simply cannot afford to keep it in use."

Car parks in St James Street and Brandon Road, Walthamstow, could also be auctioned off.

Council head of corporate asset management Paul Humphreys said: "The council's property assets are kept under continual review to identify those assets which are not required for future service delivery."

A council spokeswoman said: "The Hall Lane multi-storey car park is no longer fit for purpose and in order to improve the parking facilities at the site it has been earmarked for redevelopment.

"A condition of redevelopment would be to ensure that ample parking was reprovided."